有關債務重組的外文翻譯

1、內容來自：文檔資源庫杭州電子科技大學信息工程學院畢業(yè)設計(論文) 畢業(yè)設計(論文)外文文獻翻譯業(yè) 計 論 ) 目 畢 設 ( 文 題公允價值在債務重組中應用翻譯( ) 翻譯(1)題目 翻譯( ) 翻譯(2)題目系公允價值測量財經(jīng)系專業(yè)會計姓名張姝瑜班級049062學號04906229指導教師呂久琴公允價值測量1 在 2006 年二月, 國際會計準那么委員會 (IASB) 和美國財務會計標準委員會 (FASB) 公布了再斷言他們對美國公認會計原那么 (GAAP) 和國際的金融報告標準 (IFRSs) 的 集中承諾的一個備忘錄和對他們的開展中高級質量的被分享的目的, 公共的為全球 的使用資本市場的

2、會計準那么. 集中工作在備忘錄中被宣布的節(jié)目反映為使用 IFRSs , 而且在美國被登記的非美國公司為調節(jié)需要的拆遷以 IASB , FASB 和歐盟委員會在 請教被美國證券交易管理委員會開展的 '路線圖' 的設定標準上下文. 工作節(jié)目關于 測量公允價值包括一個方案. 2 FASB 最近已經(jīng)發(fā)行財務會計準那么匯編 157 號公允價值測量 (SFAS 157) ,在 那里在備忘錄被公布了之前,工作前進得好.SFAS 157 連同為美國 GAAP 測量公允 價值的架構一起建立一種公允價值的定義. IASB 關于在 IFRSs 測量公允價值識別出 對指導的需要了和為增加的集中用美國

3、GAAP.結果, IASB 決定為它的熟慮以 FASB 的標準作為出發(fā)點.作為它的方案的第一個階段,IASB 在被包含在 SFAS 157 的主要 的發(fā)行上正在這討論證券中出版它的初步視野. 3 IASB 方案連同討論稿的開展在這討論證券上舉行回合-表格的會議.如果你對參加 一個回合-表格的會議感興趣,請在對這邀請的你的回應指出發(fā)表評論.請注意, 因 為時間安排和場地拘束,正在指出一個利息可能能夠參加的不是所有的人. 4 IASB 將會考慮反響至這邀請發(fā)表評論和在公允價值測量上開展 IFRS 的一個討論 稿方面相關的回合-表格的討論.討論稿將會被明確地為 IFRSs 的申請準備.雖然 SFAS

4、 157 的食品可能被用于討論稿的預備, 但是,他們可能被重述或者改變對其他 的 IFRSs 感到一致而且反映 IASB 的決定. IASB 方案在 2021 年初之前公布一個討 論稿. 5 在 2005 年十一月, IASB 為評論一個討論證券公布, 測量根底為財務會計 - 在被 加拿大會計準那么委員會的全體職員寫的原始成認上的測量. 雖然那證券包含了公允價 值的討論, 但是,它的主要目的將討論哪些測量歸屬適合原始成認.那證券是在其他 的事物之中尋求建立在金融報告中的測量架構的繼續(xù)根本概念方案的一部份. 因為不 同范圍和那證券的意圖,它不在這討論證券中被討論.然而,在那討論上發(fā)表評論與 公允

5、價值的測量有關的證券在公允價值測量上和在根本概念方案將會在 IFRS 的討 論稿的開展被考慮.發(fā)行在現(xiàn)在的 IFRSs 中的 SFAS 157 和公允價值測量指導. 6 IFRSs 需要一些資產(chǎn),負債和權益證券在一些環(huán)境中的公允價值被測量.然而,指 導關于在 IFRSs 各處測量公允價值被驅散而且不總是一致. IASB 相信為是必需的所 有的公允價值測量建立一個指導的根源由 IFRSs 將會兩者都單一化 IFRSs 而且改 善被包含在財務報告之中的公允價值數(shù)據(jù)的質量. 一種公允價值的簡潔定義和適用于 所有的公允價值測量的一致的指導結合了會更清楚溝通公允價值測量的目的而且除去對成份的需要考慮指導

6、在 IFRSs 各處傳播. 7 IASB 強調公允價值測量方案不是在金融報告中擴張公允價值的使用的方法.然而, 方案的目的將編成法典, 澄清而且單一化存在 IFRSs 廣泛地被驅散的指導.然而, 為了要建立由 IFRSs 提供統(tǒng)一的指導給是必需的所有的公允價值測量的一個單本位, 修正將會需要被制造現(xiàn)有的指導.依照在發(fā)行更進一步地討論,修正可能改變公允價 值如何在一些標準和需要如何被解釋而且應用中被測量. 8 即使指導不是一致具有公允價值測量目的,在一些 IFRSs 中,IASB(或它的前任身 體) 有意識地包含了測量造成被對待好似它是公允價值的一個測量的指導.舉例來 說,段落 IFRS 3 企

7、業(yè)聯(lián)合的 B16 提供對公允價值測量目的感到不一致的指導,因 為工程在一個企業(yè)聯(lián)合,像是稅資產(chǎn)中獲得,為定義利益方案征負債稅而且用網(wǎng)捕雇 員利益資產(chǎn)或負債.此外,一些 IFRSs 包含測量可靠性標準.只有當如果公允價值 能靠地被測量,舉例來說,信息家電 16 特性,工廠和設備允許要用的再估價模型. 這一個方案將不改變任何的那指導.然而, 指導將會是方案的考慮過方案.然而, IASB 方案使用公允價值測量計畫建立指導哪里現(xiàn)在有沒有人, 像是在信息家電 17 租賃, 連同除去不清楚地以關節(jié)連接一個測量目的不一致的指導. 9 因為 SFAS 157 建立一個指導的根源和能被適用于所有的公允價值測量的

8、一個目 的, IASB 已經(jīng)到達 SFAS 157 是在 IFRSs 的不同指導方面的一個改進的初步的視 野.然而,當做在下面更詳細地討論, IASB 在 SFAS 157 的所有食品上還沒有到達 預備的視野.差額在 SFAS 157 的公允價值的定義之間和在 IFRSs 10 SFAS 157 的第 5 段定義公允價值當做 '會被收到銷售一個財產(chǎn)的價格或者支付 在測量日期在市場叁加者之間的一個有秩序的交易事項中轉移一個責任. 公允價值通 常在 IFRSs 被定義當做 '合計為哪一個財產(chǎn)可能被交換, 或一個責任付清, 在一個 正常交易的聰明又樂意的政黨之間'.在 SFA

9、S 157 的定義在三個重要的方法中IFRSs 上不同于定義: (a)在 SFAS 157 的定義明確地是出口 (賣盤) 價格.在 IFRSs 的 Thedefinition 是既不明確地出口價格也不記錄 (買盤) 價格. (b)在 SFAS 157 的定義明確地提到銷售參加者.在 IFRSs 的定義在一個正常交易中 提及聰明又樂意的政黨. (c)對于負債,責任被轉移的在概念上的 SFAS 157 決算期的公允價值的定義 (對 counterparty 責任繼續(xù);它不與 counterparty 一起付清).在 IFRSs 的定義提及 合計在哪一個責任可能在一個正常交易中被付清. 11 這些差

10、額更詳細地被討論. 問題2A: 出口價格測量目的 12 對于 SFAS 157 的結論的基價包括以下的討論: C26 交易事項銷售財產(chǎn)或者轉移責任在測量日期是一個假設的交易事項, 從持平財產(chǎn),或者虧欠責任的市場參加者的觀點考慮.因此,公允價值測量的目的將決定會為 財產(chǎn)被收到的價格或者支付也就是說在測量日期轉移責任出口價格. 委員會 FASB 總結因為它具體表達與從市場叁加者的觀點與責任有關的財產(chǎn)和將來的流出有關的 關于將來的流入現(xiàn)在的期待,一個出口價格目的是適當?shù)?在流入和流出上的強調是 一致的具有 FASB 概念聲明 6 號的資產(chǎn)與負債的定義, 金融邀請的元素發(fā)表評論聲 明.概念聲明 6 的

11、第 25 段根據(jù)將來的經(jīng)濟效益 (未來流入) 定義資產(chǎn). 概念聲明 6 的第 35 段根據(jù)經(jīng)濟效益 (未來流出) 的將來犧牲定義負債. 13 IASB 預備和財務報表的提示的架構的第 49 段同樣地根據(jù)經(jīng)濟效益的流入和流 出定義資產(chǎn)與負債.因為它反映經(jīng)濟效益的流轉的現(xiàn)在位于市場期待進入,所以大多 數(shù)的 IASB 成員相信一個公允價值測量用一個出口價格目的是一致的具有這些定義 而且是適當?shù)幕驈膫€體. 14 其他的 IASB 成員同意這視野,但是在他們的視野中一個入帳價格也反映經(jīng)濟效 益的流轉的現(xiàn)在位于市場期待進入或從個體. 因此, 他們建議用測量歸屬更描述的條 件更換期'公允價值'

12、;,像是日常記錄定價格或現(xiàn)在的出口價格. 15 一個入帳價格測量目的會在它會被定義為會被支付獲得一個財產(chǎn)或者收到在測量 日期在市場叁加者之間的一個有秩序的交易事項中承當一個責任的價格中在 SFAS 157 上不同于出口價格目的.IASB 的一些成員是有視野的一個入帳價格和出口價格 會在相同的市場中是相同的合計, 傲慢的那交易事項費用被排除.然而,一個個體可 能在一個市場中購置一個財產(chǎn)或者承當一個責任而且銷售那個相同的財產(chǎn)或者在另 外的一個市場中轉移那個相同的責任 (沒有修改的 ie 或再包裝). 在如此的環(huán)境中, 在 SFAS 157 的出口價格會可能不同于入帳價格. 16 個一些公允價值測量

13、必需的由 IFRSs 可能不對一個出口價格測量目的感到一致. 尤其,IASB 觀察當公允價值在原始成認上被需要的時候,這可能是情形,像是在: (a)IFRS 3 (b)信息家電 17 為在一個融資租賃下面的一個承租人的資產(chǎn)與負債的原始成認, 和 (c)信息家電 39 金融證券: 為一些財務資產(chǎn)和金融負債的原始成認的成認和測量. 17 在開展一個討論稿方面,IASB 可能提出一種公允價值的修正后定義.如果如此, 它將會完成一個標準-在-之前公允價值測量的標準評論必需的在 IFRSs 估定每個標 準的有意測量目的是否是一致的具有被提議的定義. 如果 IASB 總結一個特別的標準 的有意的測量目的是

14、不一致的具有公允價值的被提議定義, 或標準將會被排除在討論 稿的范圍之外或者有意的測量目的將會使用公允價值之外的一個期被重新表達.(像 是'日常記錄價值') 為了要協(xié)助它的評論,IASB 想要了解在 IFRSs 的公允價值 測量指導如何現(xiàn)在在實務中被應用.它因此請求被告在 IFRSs 識別那些公允價值測 量為哪一個實務在 SFAS 157 上不同于公允價值測量目的. 問題2B:市場參加者視野18 SFAS 157 強調一個公允價值測量是市場根底測量而不是一個個體-特有的測量. 因此,公允價值測量應該基于市場參與者會在訂定財產(chǎn)或責任的價格方面使用的假設 被建立.此外,那里的任何時

15、候是或者沒有觀察得出的市場活動,客觀的公 允價值測量保持相同: 決定價格. 那會被收到銷售一個財產(chǎn)或者被支付在測量日轉移 責任在市場參加者之間的有秩序的交易事項,不管個體的意圖或者能力在那日期銷售 財產(chǎn)或轉移責任. 19 SFAS 157 的第 10 段為財產(chǎn)在主要的 (或者大局部有利的) 市場中定義市場參加 者作為買主誰是: (a)不依賴報告?zhèn)€體; (b)聰明的, 有關于財產(chǎn)的合理理解或責任和交易事項基于所有的可得數(shù)據(jù), 包括可 能被獲得過平常和習慣的適當?shù)那趭^努力的數(shù)據(jù). (c)能夠為財產(chǎn)或責任辦理. (d)樂意的為財產(chǎn)或責任辦理; 那是, 他們被給與動機但是不強迫或者強迫這么做. 20

16、在比擬中,在 IFRSs 的公允價值的定義提到樂意的政黨在一個正常交易中.信息 家電 40 投資特性的第 42 段 44 提供這一個概念的描述: 42 種公允價值的定義提及 '聰明又樂意的政黨'.在這上下文,'聰明的'意謂樂意 的買主和樂意的賣主是被適度告知的自然,而且投資特性,它的真實又潛在使用和市 場的特性在結帳日為條件.一個樂意的買主被給與動機,但是不強迫,購置.這一個 買主是既非在-之上熱心的也不決定以任何的價格購置.假裝的買主不超過組成聰明 又樂意的買主的一個市場支付較高的價格,而且賣主會需要. 43 一個樂意的賣主是既非一在-之上熱心的也不一個被迫的

17、賣主,準備以任何的價格 銷售, 也不一準備為不在現(xiàn)在的市場情況被視為合理的價格維持. 樂意的賣主被給與 動機以最正確價格在市場用語銷售投資特性可獲得的. 因為樂意的賣主是一個假設的所 有者,所以真實投資業(yè)主的事實環(huán)境不是一個這考量的部份. 44 種公允價值的定義提及一個正常交易.交易事項在沒有一個特別的政黨或者特別 的市場使價格交易事項不特性情況的關系之間是一. 交易事項被假定在無關的政黨之 間, 每個獨立地行動. 21 IASB 的初步視野是市場參加者視野對一個現(xiàn)在被包含在 IFRSs 的正常交易的聰 明又樂意政黨的概念感到通常一致.然而,在 IASB 的視野中,被提議的定義更清楚 在 IF

18、RSs 以關節(jié)連接位于市場的公允價值測量目的.Fair Value Measurements1 In February 2006 the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) published a Memorandum of Understanding reaffirming their commitment to the convergence of US generally accepted accounting prin

19、ciples (GAAP) and International Financial Reporting Standards (IFRSs) and to their shared objective of developing high quality, common accounting standards for use in the world's capital markets. The convergence work programme set out in the Memorandum reflects the standard-setting context of th

20、e 'roadmap' developed by the US Securities and Exchange Commission in consultation with the IASB, FASB and European Commission for the removal of the reconciliation requirement for non-US companies that use IFRSs and are registered in the US. The work programme includes a project on measurin

21、g fair value. 2 The FASB has recently issued Statement of Financial Accounting Standards No. 157 Fair Value Measurements (SFAS 157), on which work was well advanced before the Memorandum of Understanding was published. SFAS 157 establishes a single definition of fair value together with a framework

22、for measuring fair value for US GAAP. The IASB recognised the need for guidance on measuring fair value in IFRSs and for increased convergence with US GAAP. Consequently, the IASB decided to use the FASB's standard as the starting point for its deliberations. As the first stage of its project, t

23、he IASB is publishing in this discussion paper its preliminary views on the principal issues contained in SFAS 157. 3 The IASB plans to hold round-table meetings on this discussion paper in conjunction with the development of an exposure draft. Please indicate in your response to this Invitation to

24、Comment if you are interested in taking part in a round-table meeting. Please note that, because of timing and space constraints, not all of those indicating an interest may be able to take part. 4 The IASB will consider responses to this Invitation to Comment and the related round-table discussions

25、 in developing an exposure draft of an IFRS on fair value measurement. The exposure draft will be prepared specifically for application to IFRSs. Although provisions of SFAS 157 may be used in the preparation of an exposure draft, they may be reworded or altered to be consistent with other IFRSs and

26、 to reflect the decisions of the IASB. The IASB plans to publish an exposure draft by early 2021. 5 In November 2005 the IASB published for comment a discussion paper, Measurement Bases for Financial Accounting Measurement on Initial Recognition, written by the staff of the Canadian Accounting Stand

27、ards Board. Although that paper contained a discussion of fair value, its primary purpose was to discuss which measurement attributes were appropriate for initial recognition. That paper is part of the ongoing Conceptual Framework project that seeks to establish, among other things, a framework for

28、measurement in financial reporting. Because of the different scope and intent of that paper, it is not discussed in this discussion paper. However, comments on that discussion paper relating to the measurement of fair value will be considered in the development of the exposure draft of an IFRS on fa

29、ir value measurement as well as in the Conceptual Frameworkproject. Issue 1. SFAS 157 and fair value measurement guidance in current IFRSs 6 IFRSs require some assets, liabilities and equity instruments to be measured at fair value in some circumstances. However, guidance on measuring fair value is

30、dispersed throughout IFRSs and is not always consistent. The IASB believes that establishing a single source of guidance for all fair value measurements required by IFRSs will both simplify IFRSs and improve the quality of fair value information included in financial reports. A concise definition of

31、 fair value combined with consistent guidance that applies to all fair value measurements would more clearly communicate the objective of fair value measurement and eliminate the need for constituents to consider guidance dispersed throughout IFRSs. 7 The IASB emphasises that the Fair Value Measurem

32、ents project is not a means of expanding the use of fair value in financial reporting. Rather, the objective of the project is to codify, clarify and simplify existing guidance that is dispersed widely in IFRSs. However, in order to establish a single standard that provides uniform guidance for all

33、fair value measurements required by IFRSs, amendments will need to be made to the existing guidance. As discussed further in Issue 2, the amendments might change how fair value is measured in some standards and how the requirements are interpreted and applied. 8 In some IFRSs the IASB (or its predec

34、essor body) consciously included measurement guidance that results in a measurement that is treated as if it were fair value even though the guidance is not consistent with the fair value measurement objective. For example, paragraph B16 of IFRS 3 Business Combinations provides guidance that is inco

35、nsistent with the fair value measurement objective for items acquired in a business combination such as tax assets, tax liabilities and net employee benefit assets or liabilities for defined benefit plans. Furthermore, some IFRSs contain measurement reliability criteria. For example, IAS 16 Property

36、, Plant and Equipment permits the revaluation model to be used only if fair value can be measured reliably This project will not change any of that guidance. Rather, that guidance will be considered project by project. However, the IASB plans to use the Fair Value Measurements project to establish g

37、uidance where there currently is none, such as in IAS 17 Leases, as well as to eliminate inconsistent guidance that does not clearly articulate a single measurement objective. 9 Because SFAS 157 establishes a single source of guidance and a single objective that can be applied to all fair value meas

38、urements, the IASB has reached the preliminary view that SFAS 157 is an improvement on the disparate guidance in IFRSs. However, as discussed in more detail below, the IASB has not reached preliminary views on all provisions of SFAS 157. Issue 2. Differences between the definitions of fair value in

39、SFAS 157 and in IFRSs 10 Paragraph 5 of SFAS 157 defines fair value as 'the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.' Bycomparison, fair value is generally defined in IFRSs as

40、'the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction' (withsome slight variations in wording in different standards). Thedefinition in SFAS 157 differs from the definition in IFRSs in three import

41、ant ways: (a)The definition in SFAS 157 is explicitly an exit (selling) price. Thedefinition in IFRSs isneither explicitly an exit price nor an entry (buying) price. (b)The definition in SFAS 157 explicitly refers to market participants. The definition in IFRSs refers to knowledgeable, willing parti

42、es in an arm's length transaction. (c)For liabilities, the definition of fair value in SFAS 157 rests on the notion that the liability is transferred (the liability to the counterparty continues; it is not settled with the counterparty). The definition in IFRSs refers to the amount at which a li

43、ability could be settled between knowledgeable, willing parties in an arm's length transaction. 11 These differences are discussed in more detail below. Issue 2A. Exit price measurement objective 12 The Basis for Conclusions of SFAS 157 includes the following discussion: C26The transaction to se

44、ll the asset or transfer the liability is a hypothetical transaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. Therefore, the objective of a fair value measurement is to determine the price that would be received for

45、the asset or paid to transfer the liability at the measurement date, that is, an exit price. The Board FASB concluded that an exit price objective is appropriate because it embodies current expectations about the future inflows associated with the asset and the future outflows associated with the li

46、ability from the perspective of market participants. The emphasis on inflows and outflows is consistent with the definitions of assets and liabilities in FASB Concepts Statement No. 6, Elements of Financial INVITATION TO COMMENT Statements. Paragraph25 of Concepts Statement 6 defines assets in terms

47、 of future economic benefits (future inflows). Paragraph 35 of Concepts Statement 6 defines liabilities in terms of future sacrifices of economic benefits (future outflows). 13 Paragraph 49 of the IASB's Framework for the Preparation and Presentation of Financial Statements similarly defines ass

48、ets and liabilities in terms of inflows and outflows of economic benefits. The majority of IASB members believe that a fair value measurement with an exit price objective is consistent with these definitions and is appropriate because it reflects current market-based expectations of flows of economi

49、c benefit into or out of the entity. 14 Other IASB members agree with this view, but in their view an entry price also reflects current market-based expectations of flows of economic benefit into or out of the entity. Therefore, they suggest replacing the term 'fair value' with terms that ar

50、e more descriptive of the measurement attribute, such as 'current entry price' or 'current exit price'. 15 An entry price measurement objective would differ from the exit price objective in SFAS 157 in that it would be defined as the price that would be paid to acquire an asset or re

51、ceived to assume a liability in an orderly transaction between market participants at the measurement date. Some members of the IASB are of the view that an entry price and an exit price would be the same amount in the same market, assuming that transaction costs are excluded. However, an entity mig

52、ht buy an asset or assume a liability in one market and sell that same asset or transfer that same liability (ie without modification or repackaging) in another market. In such circumstances, the exit price in SFAS 157 would be likely to differ from the entry price. 16Some fair value measurements re

53、quired by IFRSs might not be consistent with an exit price measurement objective. In particular, the IASB observes that this might be the casewhen fair value is required on initial recognition, such as in: (a)IFRS 3, (b)IAS 17 for the initial recognition of assets and liabilities by a lessee under a

54、 finance lease, and (c)IAS 39 Financial Instruments: Recognition and Measurement for the initial recognition of some financial assets and financial liabilities. 17In developing an exposure draft, the IASB may propose a revised definition of fair value. If so, it will complete a standard-by-standard

55、review of fair value measurements required in IFRSs to assess whether each standard's intended measurement objective is consistent with the proposed definition. If the IASB concludes that the intended measurement objective in a particular standard is inconsistent with the proposed definition of

56、fair value, either that standard will be excluded from the scope of the exposure draft or the intended measurement objective will be restated using a term other than fair value (such as 'current entry value'). To assist in its review, the IASB would like to understand how the fair value meas

57、urement guidance in IFRSs is currently applied in practice. It therefore requests respondents to identify those fair value measurements in IFRSs for which practice differs from the fair value measurement objective in SFAS 157. Issue 2B. Market participant view 18SFAS 157 emphasises that a fair value

58、 measurement is a market-basedmeasurement, not an entity-specific measurement. Therefore, a fairvalue measurement should be based on the assumptions that marketparticipants would use in pricing the asset or liability. Furthermore, evenwhen there is limited or no observable market activity, the objec

59、tive ofthe fair value measurement remains the same: to determine the price that would be received to sell an asset or be paid to transfer a liability inan orderly transaction between market participants at the measurementdate, regardless of the entity's intention or ability to sell the asset ort

60、ransfer the liability at that date. 19Paragraph 10 of SFAS 157 defines market participants as buyers andsellers in the principal (or most advantageous) market for the asset orliability who are: (a)Independent of the reporting entity; that is, they are not related parties (b)Knowledgeable, having a reasonable understanding about the asset